Bragg Financial Advisors Inc Cuts Stock Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

Bragg Financial Advisors Inc lessened its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 6.0% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 34,430 shares of the financial services provider's stock after selling 2,213 shares during the period. Bragg Financial Advisors Inc's holdings in Ameriprise Financial were worth $18,332,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Jones Financial Companies Lllp raised its stake in Ameriprise Financial by 24.3% during the 4th quarter. Jones Financial Companies Lllp now owns 1,674 shares of the financial services provider's stock worth $891,000 after acquiring an additional 327 shares during the period. Czech National Bank lifted its stake in shares of Ameriprise Financial by 5.2% during the 4th quarter. Czech National Bank now owns 21,035 shares of the financial services provider's stock valued at $11,200,000 after buying an additional 1,033 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in Ameriprise Financial in the 4th quarter worth $43,000. N.E.W. Advisory Services LLC purchased a new stake in Ameriprise Financial in the 4th quarter worth $399,000. Finally, Highland Capital Management LLC bought a new stake in Ameriprise Financial during the fourth quarter valued at about $1,286,000. Hedge funds and other institutional investors own 83.95% of the company's stock.

Analysts Set New Price Targets

Several analysts recently issued reports on AMP shares. Royal Bank of Canada reissued an "outperform" rating and set a $625.00 target price on shares of Ameriprise Financial in a research note on Monday, February 3rd. Keefe, Bruyette & Woods dropped their price objective on shares of Ameriprise Financial from $570.00 to $520.00 and set a "market perform" rating for the company in a report on Wednesday, April 9th. Piper Sandler boosted their target price on Ameriprise Financial from $415.00 to $442.00 and gave the company an "underweight" rating in a research report on Friday, January 31st. UBS Group lowered Ameriprise Financial from a "buy" rating to a "neutral" rating and decreased their price target for the stock from $580.00 to $570.00 in a research note on Monday, January 6th. Finally, Raymond James raised Ameriprise Financial from a "market perform" rating to a "strong-buy" rating and set a $518.00 price objective on the stock in a research report on Monday, April 7th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $517.44.

Ameriprise Financial Stock Performance

Ameriprise Financial stock traded up $1.35 during mid-day trading on Friday, reaching $464.57. 492,165 shares of the company traded hands, compared to its average volume of 494,763. Ameriprise Financial, Inc. has a fifty-two week low of $385.74 and a fifty-two week high of $582.05. The firm's fifty day moving average is $495.68 and its two-hundred day moving average is $522.71. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.59 and a quick ratio of 0.59. The company has a market capitalization of $44.65 billion, a price-to-earnings ratio of 14.05, a price-to-earnings-growth ratio of 1.15 and a beta of 1.23.

Ameriprise Financial (NYSE:AMP - Get Free Report) last issued its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $9.36 EPS for the quarter, topping analysts' consensus estimates of $9.16 by $0.20. Ameriprise Financial had a return on equity of 69.35% and a net margin of 19.70%. On average, equities research analysts expect that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Monday, February 10th were given a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a yield of 1.27%. The ex-dividend date was Monday, February 10th. Ameriprise Financial's dividend payout ratio is presently 17.91%.

Insider Buying and Selling at Ameriprise Financial

In related news, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the firm's stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $523.12, for a total transaction of $523,120.00. Following the sale, the director now directly owns 10,000 shares of the company's stock, valued at $5,231,200. This trade represents a 9.09 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Joseph Edward Sweeney sold 4,636 shares of the company's stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $539.07, for a total value of $2,499,128.52. Following the completion of the sale, the insider now owns 7,237 shares in the company, valued at approximately $3,901,249.59. This represents a 39.05 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 11,636 shares of company stock worth $6,263,989. Company insiders own 0.73% of the company's stock.

Ameriprise Financial Profile

Ameriprise Financial, Inc, together with its subsidiaries, provides various financial products and services to individual and institutional clients in the United States and internationally. It operates through four segments: Advice & Wealth Management, Asset Management, Retirement & Protection Solutions, and Corporate & Other.